Workers set to return to Probuild sites
Work was reportedly set to recommence on two key CBD sites previously held by now collapsed construction giant Probuild.
According to reports by the Australian Financial Review, construction was set to restart on biotech giant CSL’s new headquarters at the CBD’s northernmost end, and the 65-level Uno residential development on A’Beckett St.
However, the future of Probuild’s other CBD projects, including a 23-level office tower at 1000 La Trobe St, a strata office tower at 130 Little Collins St and an office tower at 500 Bourke St, is at this stage still unknown.
Probuild’s sites were shut down across the country after the construction giant was formally put into voluntary administration on February 24, which left almost 800 employees uncertain of their future.
On March 7, administrators Deloitte reached in-principle agreement with NSW-based construction business Roberts Co to purchase most of Probuild’s Victorian assets.
“Just over a week into the administration and while due diligence is still to be completed, this is an excellent outcome for these parts of the Group’s operations in terms of employment and certainty for sub-contractors, suppliers and other stakeholders,” Deloitte Turnaround & Restructuring national leader Sal Algeri said.
“Roberts Co would be a natural fit in terms of its experience in large-scale projects and its history with various Probuild executives.”
Roberts Co CEO, Alison Mirams said, “It’s not often the right opportunities present themselves under such challenging circumstances. This one aligns with our growth plans into Victoria following a successful launch in NSW over the past five years.”
At the time of publishing the due diligence period was yet to be completed •